Sugar closes lower on huge stocks, reduce offtake

Sugar prices settled lower by Rs 80 per quintal at the wholesale market in the national capital today following bumper stocks amid limited offtake.
Marketmen said bloated ready stocks on constant arrivals from mills amid selective buying by stockist and bulk consumers such as soft-drink and ice-cream makers mainly impacted the downtrend in sweetener prices.
Sugar ready M-30 and S-30 prices dipped by Rs 80 each to settle the day at Rs 3,400-3,550 and Rs 3,390-3,540 per quintal.
Mill delivery M-30 and S-30 prices also dropped by Rs 20 each to conclude the day at Rs 3,230-3,360 and Rs 3,220-3,350 per quintal.

In mill gate section, sugar Mawana, Shamli and Dorala slipped by Rs 50 each to Rs 3,250, Rs 3,240 and Rs 3,250 per quintal.
Sugar Budhana, Thanabhavan and Sakoti also declined by Rs 40 each to Rs 3,270, Rs 3,260 and Rs 3,225 per quintal.

Following are today's quotations (in Rs per quintal)
Sugar retail markets - Rs 35.00-39.00 per kg.
Sugar ready: M-30 Rs 3,400-3,550, S-30 Rs 3,390-3,540.
Mill delivery: M-30 Rs 3,230-3,360, S-30 Rs 3,220-3,350.
Sugar millgate (including duty): Mawana Rs 3,250, Kinnoni Rs 3,360, Asmoli Rs 3,300, Dorala Rs 3,250, Budhana Rs 3,270, Thanabhavan Rs 3,260, Dhanora Rs 3,320, Simbholi Rs 3,340, Khatuli Rs 3,340, Dhampur Rs 3,225, Sakoti 3,225, Modinagar 3,240, Shamli 3,240, Malakpur 3,220, Ramala not available, Anupshaher N.A, Baghpat N.A.,Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.